Hi Charlie,
Lots of really good suggestions here already but I figured I might as well toss in my 2 cents worth also. lol
First: Don't treat your room. Why? Because you gave a budget that's way too low to include that.
Instead, just keep in mind that you cannot trust your mix until you play it on several different systems. That can be a bother, but unless you treat your room, there's no way around it. And if you don't have several hundred dollars my advice is don'teventhinkaboutit. lol.
Second: Get a subwoofer. I use a KRK like this one.
http://cgi.ebay.com/KRK-10s-Powered-Stud...=item35a7bcc99cWhy a sub? Several reasons, tied into how we perceive sound as shown by the Fletcher-Munson equal-loudness curve, and also tied into reducing ear fatigue.
Anyways, that's my story and I'm sticking to it. ymmv and all that. :>)
Later,
Jim